MiFID II: Transaction Reporting Consensus Begins to Emerge

While Mifid II’s trade and transaction reporting requirements remain problematic in many areas, some best practice consensuses have been emerging, according to sources speaking to Practice Insight.

“Mifid II introduces a vast raft of new rules that are impossible to implement overnight,” said David Nowell, a transaction reporting specialist at Kaizen Reporting. “Of course there’ll be numerous grey areas and problem areas that linger on after a year. The ESMA Guidelines on transaction reporting is around 300 pages long and even those 300 pages can’t cover every kind of trading scenario.”